Analyst, Bradley B. Thomas, said, "hhgregg released disappointing preliminary fiscal 1Q results and lowered guidance. Comps were below expectations, driven primarily by weakness in the video category. While management is working to improve the business (with efforts to enhance the website, appliance market share, and video category profitability), we remain concerned about ongoing headwinds from Amazon (Nasdaq: AMZN) and secular trends within the consumer electronics industry. We recommend investors stay on the sidelines."

Thomas lowers Q1 EPS from (0.03) to (0.16), Q2 from $0.16 to $0.13, Q3 from $0.68 to $0.64. FY13 from $1.20 to $1.00.

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